Iraq War Sanctions: Tracing Money and Oil

In summary, during the Iraq War, the United Nations Security Council imposed economic sanctions on Iraq in response to their invasion of Kuwait in 1990. These sanctions were enforced and monitored by the 661 Committee and other organizations, and had a devastating impact on Iraq's economy, leading to widespread poverty and damage to their infrastructure. All of Iraq's oil sales were placed in a UN-controlled escrow account and used for humanitarian goods, war reparations, and UN weapons inspections. However, the sanctions were heavily criticized for disproportionately affecting the Iraqi people and hindering the delivery of essential goods and services. Reports of corruption and misuse of funds within the UN oil-for-food program also added to the criticisms of the sanctions.
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Cyrus
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Im having a discussion with someone about sanctions leading up to the war in Iraq. I was wondering if anyone could give me a source which shows where the money went in that program (corruption), and what country the Iraqi oil went to.
 
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Thanks 32 pages Dave!
 
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Wow, that is incredibly corrupt, I couldn't read it all without getting pissed off.
 
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I am not an expert on political or economic issues, but I can provide some information on the Iraq War sanctions and the flow of money and oil during that time.

The United Nations imposed sanctions on Iraq in 1990 after Iraq invaded Kuwait. These sanctions were aimed at limiting Iraq's ability to produce and sell oil, as well as restricting their access to imports of goods and services. The goal of these sanctions was to put pressure on Iraq to comply with UN resolutions and disarm their weapons of mass destruction.

According to a report by the International Monetary Fund (IMF), the sanctions resulted in a significant decline in Iraq's economy, with a 75% drop in GDP from 1989 to 1996. This decline was mainly due to the limitations on oil exports, which accounted for 95% of Iraq's export revenues.

In terms of where the money went in the sanctions program, there were concerns about corruption and mismanagement of funds. In 2004, the UN established the Independent Inquiry Committee (IIC) to investigate the UN's Oil-for-Food program, which allowed Iraq to sell a limited amount of oil in exchange for humanitarian goods. The IIC found evidence of corruption and kickbacks involving companies and individuals from various countries, including Russia, France, China, and the United States.

As for where the Iraqi oil went, during the sanctions period, Iraq was only allowed to export oil through the UN's Oil-for-Food program. This oil was sold to various countries, including the United States, which was one of the top buyers of Iraqi oil during that time.

In conclusion, while there were concerns about corruption and mismanagement in the Iraq War sanctions program, the majority of the funds went towards humanitarian goods and the oil was sold to various countries through the UN's Oil-for-Food program. I would recommend further research into the specific details and findings of the IIC report for a more comprehensive understanding of the flow of money and oil during the sanctions period.
 

FAQ: Iraq War Sanctions: Tracing Money and Oil

What were the economic sanctions imposed on Iraq during the Iraq War?

The economic sanctions imposed on Iraq during the Iraq War were a series of restrictions and penalties placed on Iraq by the United Nations Security Council. These sanctions were imposed in response to Iraq's invasion of Kuwait in 1990 and aimed to prevent Iraq from developing weapons of mass destruction and to pressure the Iraqi government to comply with UN resolutions.

How were the sanctions enforced and monitored?

The sanctions were enforced by a UN committee known as the 661 Committee, which was responsible for overseeing the implementation of the sanctions. This committee was assisted by organizations such as the International Atomic Energy Agency and the World Health Organization. The sanctions were monitored through a variety of means, including inspections, satellite imagery, and financial audits.

What impact did the sanctions have on Iraq's economy?

The sanctions had a devastating impact on Iraq's economy. The country's GDP declined significantly and its infrastructure, including its oil industry, was severely damaged. The sanctions also led to widespread poverty, malnutrition, and a decline in the standard of living for the Iraqi people.

How were the funds from Iraq's oil sales managed under the sanctions?

Under the sanctions, all of Iraq's oil sales had to be deposited into a UN-controlled escrow account. These funds were then used to purchase humanitarian goods for the Iraqi people, pay war reparations to Kuwait, and cover the costs of the UN weapons inspections. The remaining funds were held in reserve for post-sanctions reconstruction efforts.

What were the criticisms of the sanctions and their effects on the Iraqi people?

One of the main criticisms of the sanctions was that they disproportionately affected the Iraqi people, who were already suffering under the dictatorship of Saddam Hussein. The sanctions were also accused of hindering the delivery of essential goods and services, such as food and medicine, to the Iraqi people. Additionally, there were reports of corruption and misuse of funds within the UN oil-for-food program, which was established to ease the impact of the sanctions on the Iraqi people.

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